Development of valuation multiples – empirical analysis of the EURO STOXX600

Forschungsgegenstand

Development of valuation multiples – empirical analysis of the EURO STOXX600

by Prof. Dr. Martin Užík (BIFID e.V. & Berlin School of Economics and Law),

Frank Jorga (WebID Solutions),

and Roman C. K. Warias (Warias | Steuern Wirtschaft Recht)

 

Abstract:

In our contribution, we have examined the EV sales multiple in the periods from 1995 to 2017 for the companies of the EURO STOXX600. This was based on Section 11 (2) of the German Valuation Act. In addition to the development of the multiplier, the individual sectors were used to enable a valuation of the companies. The EV sales multiple was based on the average multiples of the Thomson Reuters Business Classification (TRBC) of the Business Sector and the Industry. The Industry Multiple should theoretically be better suited as it is better able to map the company profile. We found that the Industry Multiples have a smaller deviation from the respective share price.

 

Key words:

Valuation, EURO STOXX600

Source:

Development of valuation multiples – empirical analysis of the EURO STOXX600, in: Konferenzbeitrag Central European Conference in Finance and Economics, Technical University Košice, S. 298 – 305, ISBN: 978-80-553-2736-5

Dr. Jan Peter Firnges

Generalbevollmächtigter

Sie interessieren sich für unsere Publikationen? Bei Fragen oder Anregungen wenden Sie sich direkt an Hr. Dr. Firnges!

Kontakt aufnehmen